HomeMy Public PortalAbout2004-042 Resolution Calling the 1994 General Obligation Improvement BondMember Workman introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.04-42
RESOLUTION CALLING THE 1994 GENERAL
OBLIGATION IMPROVEMENT BOND.
WHEREAS, on May 1, 1994, the City of Medina (the "City") issued $1,000,000 in General
Obligation Improvement Bonds, Series 1994 to finance the cost of local street, water, and sewer
project improvements within the City of Medina; and
WHEREAS, the City has a sufficient fund balance in its Fund 305 — 1994 Debt Service to pay
off the remaining principal and accrued interest early; and
WHEREAS, the Terms of Sale for the General Obligation Improvement Bond, Series 1994
allows for the call of bonds early; and
WHEREAS, a final payment of $123,240 should be paid on October 1, 2004 to pay off the bond.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Medina to call
the General Obligation Improvement Bonds, Series 1994, on October 1, 2004 and to provide a
final payment of $123,204.
Dated: July 20, 2004
ATTEST:
rTh
it Zietlo Mayor
Chad M. Adams, Administrator -Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member Smith and
upon vote being taken thereon, the following voted in favor thereof:
Workman, Lane, Zietlow, Smith, Brinkman
and the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 0442
July 20, 2004
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